snn 29cents and rising, page-3

Thanks Goodoh for the chart. As you rightly said, Kings is held by long term investors and daily vol is mostly low.
The fundamental for Kings has changed--for the better.
* All the drilling for San Anton has been done
* Pre feasiblity studies is coming out soon. Past delays were inevitable. Due to the GFC, the processing plant has to be downsized and heap leach processing to be used instead of a more capital intensive process.So, they have to go back to the drawing board many times.
* Expect them to pour their first gold within 2 years
* Exceptionally low strip ratio--less waste to remove before you get to the ore bearing material. In fact, kings will be mining a hill instead of digging a hole---presumably a much easier and economical method
* We always used the grade of 1.0g of gold/T as a guide for the viability of a project.
That std was in use when gold price was US$400/oz.
At current price of gold, Kings's grade of 0.6g/T plus some silver is more than profitable.
I stand to be corrected but I heard Goldcorp huge gold mine in Mexico costing over $1B to develop has only a grade of 0.3g/T.
The capital cost of San Anton is only in the region of $50m.
* With the exception of last year, the management of Kings have never issued themselves any free shares or options.
* The chairman of Kings is Norm Seckold--also chairing Cookatoo Coal and Planet Gas. A quiet achiever without much publicity. He and Dudley Leitch have succesfully raise up Bolnisi Gold.

As a long term shareholder, I bought into this promising project as well as a proven management team.